Prosper – A Microlending Model for Everyone?

prosper.gifNeed a small loan? There’s an interesting business that just cropped up called “Prosper” which proposes to allow the general public to deposit money in an account and then make it available for small loans… sort of like a bank, but with a lot more input from the people who’ve deposited the funds. The whole thing functions sort of like eBay, but people can band together in groups, and can also offer only partial funding for a loan if they don’t feel like funding the whole amount. Potentially, this kind of operation could result in lower interest loans for people in need, provided they can present their idea effectively to the lending-side of the Prosper communitey. Pretty cool!

Nick Aster is a new media architect and the founder of has since grown to become one of the web's leading sources of news and ideas on how business can be used to make the world a better place.

Prior to TriplePundit Nick worked for Mother Jones magazine, successfully re-launching the magazine's online presence. He worked for, managing the technical side of the publication for 3 years and has also been an active consultant for individuals and companies entering the world of micro-publishing. He earned his stripes working for Gawker Media and Moreover Technologies in the early days of blogging.

Nick holds an MBA in sustainable management from the Presidio School of Management and graduated with a BA in History from Washington University in St. Louis.